China UnionPay optimizes payment services with the launch of Project Excellence 2024

On March 15, the launch ceremony for Explore China Your Way with UnionPay: China UnionPay Payment Service Optimization - Project Excellence 2024 was held in Shanghai.

China UnionPay has taken the initiative to launch Project Excellence 2024 to fully participate in the campaign to improve payment convenience for the senior citizens and international visitors to China. With the goal of delivering full solutions for all use cases across China, Project Excellence 2024 will be jointly implemented and co-funded by industry participants. Specifically, China UnionPay will take the lead and direct CNY 3 billion to focus on acceptance terminal upgrades, signage placement and publicity, etc. in key cities and use cases. At the same time, led by government authorities in specific sectors, UnionPay will encourage other industry players to pool their resources. The efforts will cover 41 key cities nationwide and 26 high-frequency use cases in eight major categories including F&B, accommodation, transportation, sightseeing, shopping, entertainment, healthcare, and education. By providing comprehensive payment solutions that include cards, QR codes, OEM pay products, and cash withdrawal, the undertaking will drive parallel while complementary development of mobile, card and cash payments. Project Excellence 2024 will start in Shanghai with marketing campaigns throughout the year under the theme Explore China Your Way with UnionPay, aiming at providing more discounts and options as well as a better experience.

During the ceremony, China UnionPay released 29 business achievements, covering international card issuance, overseas e-wallets, and acceptance in China. Among which were agreements signed with partners from the Philippines, Australia, and Pakistan to issue three million UnionPay cards. Ten major wallets, including AEON in Hong Kong SAR, OCBC in Singapore, and the LPB e-wallet in Vietnam, now support UnionPay QR payments, which are estimated to cover 60 million potential customers. More than ten well-known online and physical merchants, including Meituan, Trip.com, Pinduoduo, JD.com, and Shouqianba, accept international UnionPay payment products. Hong Kong and Macao vehicles traveling to the mainland can enjoy seamless payments at multiple parking lots and tollgates in Guangdong Province.

At the event, UnionPay also signed collaboration agreements with Ctrip Financial Services and China Tourism Group to provide more user-friendly cross-border payment services for international visitors to China. These two collaborations demonstrate the in-depth partnership between payment and tourism sectors that collectively improves the service for inbound travelers to China. They are also the outcome of collaborative efforts by the relevant industries. Themed marketing campaigns targeting these travelers have also been launched alongside Project Excellence 2024, available at visa centers, airlines, online travel agencies, and over 100,000 merchants in several locations including Shanghai, Guangdong, Zhejiang, and Shenzhen. Nearly 20 issuers from countries such as South Korea, Thailand, and Kazakhstan will offer up to 12% cashback to their cardholders who use UnionPay cards in China. Additionally, UnionPay's Travel Mate Asia, a card featuring popular destinations in China's mainland, will be upgraded. The new series of card issuance programs will cover more destinations with more exciting benefits.